Scaleup Europe Fund leads $250M funding round in Pigment

French software company Pigment has secured $250 million in funding at a valuation of $2.3 billion, according to a press release. The round was led by the EU's Scaleup Europe Fund, managed by EQT Capital, with participation from VC firm World Innovation Labs. Pigment's platform allows businesses to plan finances, operations, and forecasting, competing with industry giants like Microsoft Excel, SAP, IBM, and Anaplan.

The investment round follows Pigment's $145 million Series D funding in 2024, led by Iconiq. Pigment's customers include corporate behemoths like Siemens and Unilever, as well as emerging tech companies such as Anthropic and ElevenLabs. The startup, which utilizes AI in its offerings, plans to utilize the influx of capital to accelerate its research and development efforts and expand its engineering team.

Pigment co-founders Eléonore Crespo and Romain Niccoli stated, "Enterprise planning will change more in the next few years than it has in the last thirty. Legacy tools are being left behind, and the world's most advanced AI companies now run their planning on Pigment." With backing from its investors, the company aims to make autonomous planning a reality for all enterprises, with AI agents handling end-to-end planning workflows and transforming decisions into action.

The Scaleup Europe Fund, designed to bolster investment in Europe's tech sector as it competes with the US and China for technological supremacy, has also backed other startups like Mistral and Iceye.